Circio Holding Asa · OSL:CRNA

Circio Holding Asa — Targovax — Q3 2015 Earnings Presentation

20 slides from Circio Holding Asa's earnings presentation, November 2015

  1. Slide 1: Arming the patient's immune system to fight cancer

    Arming the patient’s immune system to fight cancer Q3 2015 1 www.targovax.com

  2. Slide 2: Important notice and disclaimer

    INTRODUCTION Important notice and disclaimer This report contains certain forward-looking statements based on uncertainty, since they relate to events and depend on circumstances that will occur in future and which, by their nature, will have an impact on the results of operations and the financial

  3. Slide 3: Targovax – Arming the patient's immune system to fight cancer

    INTRODUCTION Targovax – “Arming the patient’s immune system to fight cancer” 1  Oncolytic adenoviruses targeted at all solid, injectable tumors A Nordic immuno-oncology leader  RAS-mutated peptide immunotherapy, targeted at all RAS- mutated cancers 2  TG01 is the only RAS-specific cancer vaccine

  4. Slide 4: Financial highlights Q3 2015 – Strengthened capital position

    Q3 2015 HIGHLIGHTS Financial highlights Q3 2015 – Strengthened capital position Cash and cash equivalents (NOKm) NOKm 1.3 240 220 29.7 0.3 206.7 Gross proceeds from the 200 private placement in June 180 were NOKm 200 160 140 190.9 120 IPO planned for 2016 100 80 Current cash with current 60 44.5 pla

  5. Slide 5: Financial highlights Q3 2015 – Increased expenditures in line with plan

    Q3 2015 HIGHLIGHTS Financial highlights Q3 2015 – Increased expenditures in line with plan Operating expenses (NOKm) NOKm 50 49.0 45 Merger completed 40 35 Increased headcount 29.5 30 25 20 17.6 15 9.4 10 5 4.1 0 Q3 2015 Q3 2014 YTD 2015 YTD 2014 2014 5 www.targovax.com

  6. Slide 6: Q3 2015 has been a transformational quarter for Targovax (I/II)

    Q3 2015 HIGHLIGHTS Q3 2015 has been a transformational quarter for Targovax (l/ll) June 2015 Today Technology One technology Two promising technologies Studies 2 small Phase l studies Late stage planning of 5 Phase l/ll combination studies Investor base Limited 3x investor base Organization Small Hi

  7. Slide 7: Q3 2015 has been a transformational quarter for Targovax (II/II)

    Q3 2015 HIGHLIGHTS Q3 2015 has been a transformational quarter for Targovax (l/ll)  Completed merger with Oncos Therapeutics which formed a Nordic immuno-oncology powerhouse  Successful NOKm 200 private placement completed  TG01 Pancreatic cancer Phase ll study and ONCOS-102 Mesothelioma Phase ll

  8. Slide 8: Targovax focus on solid tumors susceptible to immunotherapy and RAS mutations

    TARGOVAX'S TECHNOLOGY Targovax focus on: Solid tumors susceptible to immunotherapy and those with RAS mutations Solid tumors RAS mutations Tumor type Response to CPIs Melanoma ~50% 50% High Pancreas (340,000) Initial focus Incidence of Pan-RAS mutations in cancer3 Triple Negative Breast ~70-80% ~30-

  9. Slide 9: Cancer immunotherapies are combined to maximize efficacy

    TARGOVAX'S TECHNOLOGY Cancer immunotherapies are combined to maximize efficacy Teach the Attack the cancer Wake up the Disarm cancer’s Immuno-oncology mechanisms T-cells at the with T-cells immune system defence lymph nodes systemically Switch on the GPS– Press on the gas Ignite the engine Release t

  10. Slide 10: An emerging immuno-oncology specialist with two platform technologies

    CANDIDATES AND PROGRAMME An emerging immuno-oncology specialist with two platform technologies ONCOS TG 1  Adenovirus vaccines creating Nature of therapy immunity against patient’s own  RAS-targeting peptide cocktails antigens 2  The virus makes the tumors release  The RAS peptides are picked up

  11. Slide 11: Targovax has differentiated assets with orphan indications

    CANDIDATES AND PROGRAMME Targovax has differentiated assets with orphan indications* Indication(s) Program Discovery Pre-clinical Phase I Phase II Phase III Pancreas cancer* TG01 Development Mesothelioma* ONCOS-102 Melanoma ONCOS-102 Colorectal cancer TG02 Exploratory Ovarian cancer* ONCOS-102 Prost

  12. Slide 12: Current view of the clinical development program 2015 – 2018

    CANDIDATES AND PROGRAMME Current view of the clinical development program 2015 – 2018 Cancer Product Study 2015 2016 2017 2018 indication candidate details H2 H1 H2 H1 H2 H1 H2  Combinations: Gemcitabine Resected TG01  Patients: 19 + 13 Phase I/II pancreas  Sites: 5 (N, UK, Esp) Immune study Targ

  13. Slide 13: Expected news flow 2016 – 2018 shows multiple value inflection points

    VALUE INFLECTION POINTS Expected news flow 2016 – 2018 shows multiple value inflection points ONCOS-102 Initiate Phase l/ll Mesothelioma ONCOS-102 ONCOS-102 TG01 Initiate Phase l Initiate Phase l/ll Initiate neoadjuvant Prostate Melanoma exploratory study TG01 TG02 ONCOS-102 TG02 TG02 Initiate immun

  14. Slide 14: Unique immuno-oncology portfolio with promising data

    SUMMARY Unique immuno-oncology portfolio with promising data 1 Immuno-oncology is the fastest growing life science segment 2 Unique portfolio with promising data 3 Multiple value inflection points 4 Experienced management team 5 Backed by leading life science investors 14 www.targovax.com

  15. Slide 15: Appendix

    Appendix 15 www.targovax.com

  16. Slide 16: Internationally experienced senior management team

    MANAGEMENT TEAM Internationally experienced senior management team Gunnar Gårdemyr, CEO Øystein Soug, CFO  More than 30 years of international experience from the  Previously CFO at Algeta, where he built up the functions pharmaceutical and biotech industry including business of Finance, IR, Compl

  17. Slide 17: Experienced Board of Directors

    BOARD OF DIRECTORS Experienced Board of Directors Jónas Einarsson, MD Johan Christenson, MD, Per Samuelsson Eva-Lotta Allan  Chief Executive Officer of PhD  Partner of HealthCap  Currently Chief Business the Radiumhospitalets  Partner of HealthCap  Prior to joining HealthCap Officer at Immunoco

  18. Slide 18: Strong shareholder base comprising several reputable institutional investors

    SHAREHOLDER BASE Strong shareholder base comprising several reputable institutional investors Shareholder structure 30 September 2015 Shareholder No. of shares Ownership HealthCap 8,490,918 31.6% Radiumhospitalets Forskningsstiftelse 3,410,589 12.7% Trojan AS 2,462,000 9.2% Arctic Funds Plc 907,000

  19. Slide 19: Q3 2015 – Financial summary

    FINANCIAL SUMMARY Q3 2015 – Financial summary NOK thousands Q3 2015 Q3 2014 9M 2015 9M 2014 FY 2014 Total operating revenues 144 0 144 52 72 Total operating expenses -29,478 -4,115 -48,997 -9,361 -17,642 Operating profit/loss -29,333 -4,115 -48,853 -9,310 -17,570 Net financial items 487 1 500 -85 -7

  20. Slide 20: Thank you for your attention

    Thank you for your attention 20 www.targovax.com

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